17 February, 2008

license plate record

"Abu Dhabi: Licence plate No 1 broke the world record as the most expensive, fetching a whopping Dh52.2 million in fierce bidding in Abu Dhabi on Saturday.

Saeed Al Khouri, 25, a businessman in Abu Dhabi, won the number plate after a furious contest in the final stages of the auction conducted at the Emirates Palace hotel.

He broke the record by paying more than double the previous record which went to plate No 5 that sold for Dh25.2 million and is owned by his cousin Talal Ali Mohammad Khouri, also a prominent businessman."


more HERE

17 comments:

EmiratesMac said...

Amazing

Jayne said...

In my opinion, the bloke who paid such a ridiculous amount for a number plate has got more money than sense!

MD said...

Now, the Khouri family can rest in peace.

i*maginate said...

I understand the #5 license plate is on a Rolls Royce, driven by its owner. Perhaps I'm wrong, but I assumed a Rolls is meant to be chauffeur-driven, or am I missing something?

ali900 said...

well i just think its a waste of money. But i ain't gonna argue cause it isn't my money thats being wasted. Should have gone to a better cause but whatever...

Kyle said...

Whoever came up with this numbers racket is a genius.

What better way to seek financial resources for development than to auction a one or two digit plate to the highest bidder!

The general public including this person will always fall for the charity-directed final destination of this auction. He’ll go home with a metal plate in his hand, gloating he did it one more time while the Government will be relieved, rather happy they could channel/divert that exact specific amount (gained) to a revenue generating project.

Pure economics & brilliant thinking.

Or better yet, commit burglary without stealing. That way, you don’t risk a slammer date.

Sucker, this man that continues to fall for this scam!

i*maginate said...

kyle, I understand from the GN article linked to that the revenue raised is going towards funding new care facilities for accident victims.

Kyle said...

i*maginate:

My point exactly!

Say, the Government had earmarked a certain fund for this Trauma Center project. Then comes a whiz kid with an idea. How about we find a sucker to come up with the money (for that Trauma Center project) through this numbers racket. No worries about assigning this project to his name, for he’s already gotten himself a worthless metal plate!

Government withdraws that earmarked fund, invests to generate revenue thus continuing their ever-ballooning net worth and, as well takes credit for the Trauma project.

Now we do this from a layman point of perspective. If you had this kind of cash, would you hand it over to a third party to put it to good use? Consider, in return you'd get a thank you note in terms of a metal plate. Or you’d find your own way through, to this do-good project?

i*maginate said...

kyle, I know that was your point. To further elaborate, common: going with your thoughts "pure economics & brilliant thinking" - this approach is, is it not? It's called "capitalising" ;-)

Think of it from an economical perspective...no more to be said. No harm done either, right?

rosh said...

Wowza! I don't even know "how much" monies that is :) Well as long it's towards charities & the less fortunate, works out well I suppose.

Kyle said...

i*maginate:

Capitalizing on someone's ego is pure economics & brilliant thinking.

Or better yet, Strategic Wealth Generating Stratagem, if you prefer an even heavier term!

hemlock said...

they will build a hospital for all the people the reckless drivers with single digit numberplates will knock down.
that's a brilliant plan.

BuJ said...

waste of flipping money! ignorant buggers.

bklyn_in_dubai said...

i love that one of the winners was a ten year old. he understands the importance and necessity of a proper status symbol. in an earlier sale, one guy said “It is all about competition and status. I have been a regular in these auctions for quite some time now. Having good numbers on our cars is a special thing for us and is a matter of pride and prestige,” quipped a UAE national who declined to give his name. (KT, 16 Feb, Number 98 in ‘F’ series fetches Dh2.4 million)

so buj's point that it is a waste of money is true in a strictly financial sense; but the purchase of plates is about status as the quote above makes clear.

what i want to know is *how* plates and mobile #s came to be status symbols...

BuJ said...

hi bklyn :)

you need not go too back into the UAE history to find out why emiratis attach so much importance to such numbers.

back in the days (1980s or so) you could get a cool number plate (say 3 digit) or a cool house number if u knew the right person at the police or etisalat.. and your status meant that you knew higher up people and thus you had a cooler number..

since those days, it was clear that a direct correlation between number and status was set (via the people u know).

now it just so happens that people that are well connected tend to have fat bank accounts.

thus when sheikh mohammed (and others) decided to take advantage of this and charge these nitwits (remember the 1980's wasta was pretty much free) they continued to behave in the olden golden ways.. so these nitwits now pay big money and compete on who has the smallest number plate on the biggest car.

total waste of money and time if u ask me.

hope this answers your question.

i*maginate said...

kyle, agreed! Did you hear about the world's most expensive phone number? +974 6666666 (something like that!)

Guess how many phonecalls that dude must be receiving!

Kyle said...

i*maginate:

I found more on that 666-6666 here.

I just hope the device hosting those sixers is as exotic as , and not a dumb-ass Vertu.

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